Recruiting and Retaining Millennials

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Is your organization and its leaders ready for the influx of the Millennial generation in the workplace? This presentation covers tips for recruiting and retaining Millennials and several "clashpoints" that appear among the four generations of employees today.

Transcript of Recruiting and Retaining Millennials

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2. AABbOoUuT tY OthUeR fFaAcCiIlLiItTaAtToOrRsSAngie Salmon, SVP EFL AssociatesAngie has completed over 120 executive search assignmentsduring her ten-year tenure at EFL Associates. The ability toeffectively recruit and retain emerging talent has become moreimportant as Millennial candidates reach the executive ranks.Wayne Larson, Marketing EFL AssociatesThe token Millennial, Wayne leads CBIZ Human Capital Services &EFL Associates' national marketing efforts, specifically workingcool, engaging stuff.2 3. GENERATIONS OUR DEFINITIONSGenerations Born Age1. Traditionalists 1930-1945 69-842. Baby Boomers 1946-1964 50-683. Gen X 1965-1976 38-494. Gen Y/Millennials 1977- 37 and younger3 4. YOUR CURRENT MILLENNIAL INVESTMENT4Number of employees under 37 years oldXGroup's average total compensation=Total millennial investment 5. ESTIMATED U.S. POPULATION580706050403020100Millennials(20-34)Gen X(35-49)Baby Boomers(50-69)Traditionalists(70-84)US Population Estimates (Millions)US Census as of July 2013Millennials will become75% of the global workforce by 2025 and moreare stepping intomanagement positionsevery day.65.6M61.7M76.4M24.0M 6. UNDERSTANDING DIVERSITY VS STEREOTYPING6 7. TRADITIONALISTS (69-84)DEFINING MOMENTS & IDENTIFICATION95% OF TRADITIONALISTSARE RETIRED FROM THEWORKPLACEAKA: THE SILENT GENERATION Comfortable with delayed gratification Hard work, sacrifice Recognition for great contributions Utilize the lifetime of wisdom Ask them (they might not volunteer) Mentor Millennials trust themPERFORMANCECLUES7 8. BABY BOOMERS (50-68)DEFINING MOMENTS & IDENTIFICATIONAKA: POST WWII BABY BOOMBABY BOOMERS CONTROL OVER80% OF PERSONAL FINANCIALASSETS & MORE THAN HALF OFALL CONSUMER SPENDING.PERFORMANCECLUES Competitive Enjoy leading teams Work hard, pay your dues Measure work effort in hours per week Want to be recognized for contributions Prefer phone, personal interaction, meetings8 9. GENERATION X (38-49)DEFINING MOMENTS & IDENTIFICATIONAKA: GEN XersPERFORMANCECLUES49% OF GEN Xers HAVE AT LEASTSOME COLLEGE EDUCATION Naturally skeptical Loyal to individuals (not companies) Training is security Wants career security rather than job security Balance now not late in life Prefer email, voicemail, direct and immediate Savvy with technology, media and information9 10. GENERATION Y (